Silicon Nitride Market estimated to reach beyond 127 Million USD by 2023

Posted October 4, 2019 by armaan007

Silicon Nitride Market expected to be valued at 127 Million USD by 2023, at a CAGR of 7.2%, during 2018–2023

According to the new market research report "Silicon Nitride Market by Type (Reaction Bonded Silicon Nitride, Hot Pressed Silicon Nitride, Sintered Silicon Nitride), End-use Industry (Photovoltaic, Automotive, General Industrial, Aerospace, Medical), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Silicon Nitride Market is estimated at USD 90 million in 2018 and is projected to reach USD 127 million by 2023, at a CAGR of 7.2% between 2018 and 2023. The need for high-performance materials in demanding applications is expected to drive the market.

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Medical end-use industry to witness the highest CAGR in the global silicon nitride market during the forecast period.

In the medical industry, silicon nitride is used as a material for manufacturing surgical screws, plates, and bearings for use in applications such as prosthetic hips, knee joints, and dental implants. Silicon nitride composites are also used in cervical spacers and spinal fusion devices. It is biocompatible, bioactive, bacterial resistant, and shows excellent bone affinity.

The usage of silicon nitride for implants is in the nascent stage, and its long-term durability is yet to be studied. However, it is found to be better than currently used materials. The other advantage of silicon nitride is that it can be easily seen on X-rays as it does not block the imaging of bone anatomy behind the implant and its dielectric and non-magnetic nature will eliminate any distortions in CAT and MRI scans. On the other hand, plastic implants on X-rays are invisible, and metal implants appear solid, thus obscuring the visibility of bone anatomy behind the implant. Hence, silicon nitride is found to be a suitable material for the manufacturing of medical implants. Increasing occurrences of orthopedic disorders in the geriatric population will drive the silicon nitride market in the medical industry.

Use of sintered silicon nitride (SSN) in demanding applications will drive the growth of the SSN type segment in the silicon nitride market.

SSN exhibits properties such as high-temperature strength, superior thermal shock resistance, creep resistance, good fracture toughness, oxidation resistance, and excellent wear resistance. The SSN is used in applications such as components in glow plugs in diesel engines, pre-combustion chambers, turbochargers, rocker arm pads in spark ignition engines, and components in exhaust gas control valves.

APAC to account for the largest share in the silicon nitride market during the forecast period.

APAC is projected to lead the global silicon nitride market between 2018 and 2023. In terms of growth rate, the region is projected to be the fastest-growing market during the forecast period. The photovoltaic end-use industry was the largest in APAC in 2017. Silicon nitride is used as an antireflective coating in solar PV panels, and, without it, the efficiency of solar PV panel will decrease. The increasing adoption of renewable energy and installation of solar energy will drive the silicon nitride market. Emerging markets such as China, Japan, South Korea, and India are the major growth drivers of the APAC market.

The leading silicon nitride powder manufacturers are UBE (Japan), Denka (Japan), AlzChem (Germany), H.C. Starck (Germany), Yantai Tomley Hi-Tech Advanced Materials Co. Ltd (China), and Vesta Si (Sweden). The leading players for the fabrication of silicon nitride are 3M (US), CeramTec (Germany), Kyocera Fine Ceramics (Japan), Morgan Advanced Ceramics (UK), Toshiba (Japan), Rogers Corporation (US), and CoorsTek (US). These players adopted expansions, acquisitions, new product launches, and agreements as their key growth strategies from 2014 to 2018, which helped them increase their capacities and cater to the widening customer base.

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Issued By Markets And Markets
Country India
Categories Automotive , Industry , Medical
Tags Silicon Nitride , Silicon Nitride Market , Silicon Nitride industry , Silicon Nitride companies , Silicon Nitride manufacturers
Last Updated October 4, 2019